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TEXAS MONTHLY OWNER TO GO PRIVATE

Posted on May 10th, 2006 8:43am by Wick Allison
Filed under Media

Jeff Smulyan, CEO of Emmis Communications–which owns TM–is tired of Wall Street’s attitude toward media stocks, so he’s taking the company private. Might Belo consider a similar strategy? Emmis owes $1.17 billion of debt on revenues of $618 million. Belo owes $1.24 billion on revenues of $1.5 billion, and its stock at below $18 is in the tank despite good fundamentals. Maybe the market’s devaluation of media companies right now is a good opportunity for those who know a company’s true value.

CORRECTION: Emmis’ debt is $726 million, not $1.17 billion. Still.

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